Chinese EV makers slapped with 'countervailing' EU tariffs [Seeking Alpha]
XPeng Inc. American depositary shares, each representing two Class A ordinary shares (XPEV)
Company Research
Source: Seeking Alpha
The action -- though expected -- rattled shares of XPeng ( NYSE: XPEV ), Li Auto ( NASDAQ: LI ), NIO ( NYSE: NIO ) and BYD (BYDDF, BYDDY), and reverberated through stocks of non-China based manufacturers who are also impacted by the tariff. After a nine-month investigation , the European Commission found that manufacturers who make EVs in China benefited from very generous, and uncompetitive subsidies from the government. The subsidies undercut EU-made vehicles and swelled the market share enjoyed by Chinese EVs from 3.9% in 2020 to 25% at the end of 2023. “Based on the investigation, the Commission has concluded that the BEV value chain in China benefits from unfair subsidisation (sic), which is causing a threat of economic injury to EU BEV producers,” the commission said. To adjust for the unfair advantage, the EU imposed “countervailing duties” as much as of 37.6% on vehicles exported into Europe from China. “Sampled” Chinese producers – those who cooperated in the EU probe
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XPEV
News
- XPENG Announces Vehicle Delivery Results for September and Third Quarter 2024GlobeNewswire
- Chinese electric vehicle stocks rip big gains again on stimulus exuberance [Seeking Alpha]Seeking Alpha
- Why XPeng, Li Auto, and Even Cleveland-Cliffs Stocks Soared This Week [Yahoo! Finance]Yahoo! Finance
- Why XPeng Stock Spiked Higher Today [Yahoo! Finance]Yahoo! Finance
- XPENG to Unveil the Future of AI Mobility in Europe at Paris Motor Show 2024GlobeNewswire
XPEV
Earnings
- 11/15/23 - Beat
XPEV
Sec Filings
- 10/2/24 - Form 6-K
- 9/23/24 - Form 6-K
- 9/13/24 - Form F-6EF
- XPEV's page on the SEC website